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Siemens 'not serious’ about bid for Alstom energy arm

Siemens, which has set itself a deadline of June 16 to decide on whether to launch a counter-bid for Alstom’s energy arm, is understood to be not “serious” about proceeding with a takeover offer for its French industrial rival.

The German engineering behemoth is said to be engaging with Alstom merely to frustrate General Electric’s planned €12.35bn acquisition of the French company’s energy division.

Meanwhile, GE is learnt to be still keen on sealing the deal despite pressure from the French government to make a host of concessions, but “not at any cost”.